OANDA Pricing, Reviews & Features

The Filer does not manage any discretionary accounts, nor does it provide any trading advice or recommendations regarding CFD transactions. Overall, on our Oanda review, the broker scores an excellent 4.5 out of 5 as it is an excellent choice for traders looking for a reputable broker with very strong regulations in place and for safety of funds. The exceptional offering of Forex educational materials, through Market Pulse and Oanda’s proprietary tools are a must for new and seasoned traders. On the downside, the broker fails to capture the attention of new traders, perhaps because of the overall cost of trading. Oanda’s pricing is slightly higher when compared with other top brokers.

The platform was easy to use and I could easily have moved to an account trading real cash. I’m still practicing though, so OANDA is on the top of my list to open a real account when I am ready. It’s been always my first choice to get info about currency exchange rates, live or historical, very easy to use, very clear & precise, and it’s good for businesses that use multiple currencies. He reached a senior partner, who was astonished at what Oanda was doing. “You’re serious? You’re already operating?” Stumm recalls the partner asking. “You have to shut the thing down immediately, apply for a licence and start again.” But Stumm simply refused.

Oanda User reviews

Thank you for your review, we appreciate hearing about your experience with our platform and services. I enjoyed a personal conversation with a real person and the account manager is extremely helpful. You have access to a wealth of data on currency rates from all over the world. This provides a consistent way to track rates firm wide. Trading platform for currency exchange that comes with mobile interface and uses MT4 automated trading. Star Sellers have an outstanding track record for providing a great customer experience – they consistently earned 5-star reviews, dispatched orders on time, and replied quickly to any messages they received.

The Filer is regulated by IIROC, which has a robust compliance regime including specific requirements to address market, capital and operational risks. CFDs allow clients to obtain exposure to markets and instruments that may not be available directly, or may not be available in a cost– effective manner. Data supplied in partnership with CashBackForex – Forex Rebates places Oanda on the top 10 brokers for popularity with traders opening an account in 2020. Customer support – Oanda multi language customer support service is available 24 hours, 5 days a week, in 7 main languages. Oanda’s support is available via email or by local office phone call .

Online Now

Additionally , various analysis tools may be used in mobile trading and real-time rates and premium financial news are available. Now, 12 years later, Oanda Corp.—the company he co-founded with a high school friend from Switzerland, financier Richard Olsen—is one of North America’s largest retail forex trading firms. Still privately owned, Oanda has offices in Toronto and six other cities around the world. Its computers handle up to 1.7 million trades a day, with a value that has reached $10 billion. Stumm, 59, is one of the most successful tech entrepreneurs in Canada, and has a stake in the firm that exceeds 10%—a slice that is likely worth close to $50 million. The ability to lever an investment is one of the principal features of CFDs.

When University of Toronto computer engineering professor Michael Stumm decided to launch an online currency trading platform for individual investors in 2001, he had no idea of the regulatory obligations involved. Nor did he have any experience in dealing with the powerful international banks that dominate foreign exchange—forex—the world’s largest, fastest and most liquid market, with a daily global trading volume of about $4 trillion (U.S.). Stumm spent a modest $250,000 to have four of his former students help him write the software. The Filer has updated its hedging and off-setting practices since the time the Existing Relief was granted. The Filer manages the risk in its clients’ position through a hedging strategy, subject to IIROC Rules and IIROC Acceptable Practices.

The process of opening an account in…

Non-Trading/Other Fees – Any form of fee for trading on this platform not covered above. For example, a brokerage might charge you for making deposits into your brokerage account or taking money out. Inactivity Fees – Any fees that the broker charges you for not trading, such as if it charges you for keeping money in a brokerage account. Here traders can get a lot of information and, for example, take part in webinars.

I’ve been trading on demo accounts for the past 6 months now, I won’t mention names but what I can say upon finding OANDA today I will be SURE to use them as my live account. We offer clients the opportunity to trade a broad range of financial products with Forex in the US and Japan; Forex and CFDs in Canada, UK, EMEA, APAC and Australia. Our award-winning platform offers exceptional execution with sophisticated trading tools and advanced charting packages with an extensive range of leading edge indicators and drawing tools powered by TradingView. I have the app on my phone and use it all the time when traveling for business to document exchange rates or to see just how expensive that soup on the menu is. The app is simple to use – you can scroll through a list of all currencies to select, or roll through your favorites. My only quibble is that the list is a bit small and my fat thumb has been known to click on the wrong one.

• Everything is provided in great details which .You can also get Live Exchange Rates without premium account.
• D) cumulative loss limits for each client’s account be established .
• “We look forward to a long and successful relationship with this outstanding team,” he said in the press release announcing the deal.
• The Filer does not have any securities listed or quoted on an exchange or marketplace in any jurisdiction inside or outside of Canada.

For PayPal, there are no withdrawal fees for accounts in GBP, EUR and USD. But, if the PayPal account is denominated in a currency other than GBP, EUR or USD, traders may incur exchange fees levied by PayPal in addition to PayPal processing fees. For more information, please visit the Oanda deposits and withdrawals dedicated page. A fast-paced look at overnight developments and breaking business news affecting today’s financial markets. Finally, OANDA has an outstanding set of educational tools for both learning about the forex market and conducting fundamental analysis. While none of these tools are available from within OANDA’s trading platform itself, you can click basic links from within the platform to access them.

The range of deposit and withdrawal methods that Oanda makes available to its customers is extremely large. Additionally, to the standard payment methods, particularly credit card and bank transfer, the broker also provides PayPal. For the trading platform, Oanda decided on the one hand to use the multiple award-winning trading platform FX-Trade. On the other hand, traders also are given the chance to use MetaTrader 4.

Their website is slow, unresponsive and their helpdesk isn’t helping at all other than a standard script answer they’ll give on why it takes so long to fully register and open the account. Also other thing i noticed is that they dont offer any credit/debit funding. Having dealt with many brokers ie IG – I found Oanda to be the best of all in terms of systems, prices and customer experience. We always aim to deliver a great experience, and we are sorry to hear that we didn’t meet your expectations. Thanks for taking the time to bring the issue of the AI image software to our attention.

This means that in extreme market volatility and without an adequate stop loss in place, a losing trading position can cause a negative account balance. Customer reviews are one of the most important things for your business. Reviews not only have the power to influence consumer decisions but can strengthen a company’s credibility, gain customer trust, and encourage people to interact with your business. As a highly technical field, currency trading requires a wealth of highly specific information.

Exchange on Net

Unfortunately, Oanda isn’t one among these providers. We have found in our test that there’s no bonus. It’s positive that Oanda provides its customers with live support as well as email contact. Additionally, a telphone number can be used to reach out to Oanda from Sunday 1 p.m. This also applies to live chat, which might be a good way to get questions answered relatively quickly.

The Filer is not in default of oanda review securities legislation in any province or territory of Canada, or IIROC Rules or IIROC Acceptable Practices . The Filer is registered as a dealer in the category of investment dealer in each of the provinces and territories of Canada, and is a member of the Investment Industry Regulatory Organization of Canada . The Filer is a corporation incorporated under the laws of Alberta with its principal office in Toronto, Ontario. Google 5 Star Ratings in organic search boots traffic to your website and sets you apart from the crowd by inspiring more confidence among potential new customers. Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on and

So I feel confident discussing things with him. Thank you for taking the time to leave a review. Brokers have to make money and Oanda does this from the spread (& financing) which is bigger than some competitors. But I feel some competitors seem to have some very odd volatility that you generally don’t see on Oanda. Personally wouldn’t trust any broker than isn’t on trading view.

Live chat directly from Oanda’s website is also available. To benefit the lower spreads, Oanda will add a commission for positions opened via the Core Pricing modelling. For the most popular pair the EUR/USD, 1 traded lot is 5 USD (2.5 USD per side).

This is particularly true of its web client, which is unfortunately cluttered and unintuitive. Oanda has been on the market for practically forever and is well regulated. Therefore Canadian traders can assume that they are trading with a reputable broker. In the area of the demo account, Oanda is convincing, as one is not only offered free of charge, but is available indefinitely. This allows Oanda to stand out from some other brokers, where the demo account can be used for a maximum of 14 or, in the best case, 30 days. Many brokers pay their new customers a bonus that’s added to the initial deposit.

https://forexbroker-listing.com/ also intrigued many potential investors with Oanda’s product, but worried them with his management style. Danny Rimer, a principal with the London-based venture capital firm Index Ventures, started taking a close look at Oanda in 2005. He is also Swiss, and now an Oanda director, yet back then he had trouble persuading his colleagues at Index Ventures to overlook Stumm’s quirks. IIROC Rules and IIROC Acceptable Practices set out detailed requirements and expectations relating to leverage and margin for offerings of CFDs. The degree of leverage may be amended in accordance with IIROC Rules and IIROC Acceptable Practices as may be established from time to time. For accounts opened via Oanda USA, Oanda Canada, Oanda Singapore and Oanda Japan there is no Negative Balance Protection, to prevent clients from keeping their accounts balance below zero.